MGM's largest shareholder backs potential offer for Ladbrokes owner

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The U.S.-based company said it considers a proposed merger with the British bookmaker to be “compelling” and believes a deal, amongst other things, would help grow BetMGM, its online sportsbetting operating in the United States.

Entain earlier this week rejected the takeover advance, saying it significantly undervalued the company and asked MGM for more information on the strategic rationale for a merger.